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Nuclear Energy Institute
FOR IMMEDIATE RELEASE: May 21, 2010
Contact: media@nei.org, 202.739.8000 or 703.644.8805 (after hours and weekends)

NEI Welcomes News of Federal Loan Guarantee Offer for Eagle Rock Enrichment Facility

WASHINGTON, D.C.—The U.S. Department of Energy announced Thursday that it has offered a $2 billion conditional commitment for a loan guarantee to AREVA for the company’s planned Eagle Rock uranium enrichment facility near Idaho Falls, Idaho. The Nuclear Energy Institute’s vice president for policy development, Richard Myers, made the following comments about the loan guarantee offer.

“The Eagle Rock loan guarantee offer is an extremely positive development for the nation’s electric infrastructure, for the Idaho economy and for U.S. energy security.

“Most immediately, the federal loan guarantee will help AREVA arrange lower-cost debt financing that will reduce the overall cost of the project and mean thousands of good-paying jobs for the Idaho citizenry. Longer term, it will strengthen the U.S. supply of competitively priced uranium enrichment services, which will help ensure that the production costs of nuclear energy remain as low or lower than other baseload electricity sources. That benefits consumers and the U.S. economy as a whole.

“The Nuclear Energy Institute congratulates AREVA and commends the Energy Department for achieving this important milestone to stimulate needed investment in our nation’s electric sector.”